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Workers Who Retire After 2037 May Not Receive Pensions : ACRR

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The Africa Centre for Retirement Research (ACRR) fears the Social Security and National Insurance Trust (SSNIT) may not be able to fully pay benefits of pensioners after 2037 if the latest actuarial valuation report is anything to go by.

The think tank asserted that the scheme is facing medium- to long-term sustainability danger.

Interacting with journalists on Wednesday, November 24, the Executive Director of ACRR, Abdallah Mashud, observed that if necessary steps are not taken, Ghana’s social security scheme will bend to its knees.

Mr Mashud cited how the 2014 actuarial valuation exercise pegged a depletion of SSNIT’s resources by 2042.

“Three years later, that is, the subsequent valuation in 2017, however, predicts that the reserves [will] deplete in 2037, five years earlier,” he told journalists.

“What this means is that if Parliament, policymakers and stakeholders do not undertake the necessary steps to address the imbalance in the social security finances through parametric and legislative reforms, the Trust funds are unable to pay full scheduled benefits on timely basis in 2037.”

Suggestions have been made for the retirement age to be increased from 60 years to 62 years, especially by 2037.

“ACRR is, however, of the opinion that, considering the SSNIT pensioners’ post-retirement mortality pattern, increasing retirement age by two years will result in more members dying in service, instead of in pension,” he said.

He called on government to rather pay up its indebtedness to SSNIT.

“Government indebtedness to the Trust continues to hurt the schemes compliance rates and scheme’s long-term sustainability.

“Delays in the payment of due contributions by government has been cited in the actuarial valuation reports as hampering the scheme’s level of investible funds.”

He fears the next actuarial valuation report may even pose threatening outcomes to pensioners and Ghanaian workers in general as a result of the effect of the Covid-19 pandemic.

“The next actuarial valuation report will be based on data for the period January 2018 to December 2020. Firstly, considering the economic impact of the Covid-19 pandemic on the financial markets, the Trust may as well report another fiscal year loss on its investments.

“Secondly, the rate of growth of the pensioner population continues to outstrip the corresponding growth rate of contributors. Evidently, the number of workers contributing to support a pensioner dropped further from 9 contributors per pensioner in 2013 to 7 in 2020.

“Therefore, based on income-expenditure dynamics among other considerations for the period 2018 to 2020 and its expected impact on reserves, the depletion date for the next valuation may come earlier than 2037.”

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Uniformed Suspect In Buipe Robbery Incident Not A Soldier : Ghana Armed Forces Says

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Investigations conducted by the Ghana Armed Forces (GAF) has revealed that the suspect wearing a military camouflage uniform arrested in a robbery incident at Buipe in the Savannah Region is not a recognised solder.

Police reports indicated that the five suspects, including the man posing as a military officer, were arrested after snatching a 2012 Toyota Camry vehicle from its owner at gunpoint in Tamale.

The police also retrieved a G3 rifle and a pistol, military uniforms, and voter ID cards.

But reacting to the matter, the Acting Director of Public Relations of the Ghana Armed Forces, Commander Andy La- Anyane, clarified that the suspect is not a soldier of the Ghana Armed Forces, and expressed worry about the increasing spate of impersonation by civilians.

“The attention of the Ghana Armed Forces has been drawn to several videos and pictures on various social media platforms of the arrest of a car snatching syndicate at Buipe alleged to have attacked and snatched a car from a victim at Tamale. In the said videos and pictures, one of the suspects is seen wearing a military camouflage uniform and has been described variously as a soldier of the Ghana Armed Forces.”

“We wish to state categorically that the suspect is not a soldier of the Ghana Armed Forces. The Armed Forces is worried about the rising spate of impersonation by civilians, either wearing military uniforms or posting of fake pictures of themselves as military officers to defraud unsuspecting Ghanaians.”

Commander Andy La- Anyane pinned the trend on the unauthorized sale of military uniforms and military pattern gadgets by some vendors, saying such action is inimical to national security.

The Ghana Armed Forces also assured of collaboration with the Ghana Police Service to unravel the source of the military uniforms in the incident and also stop the unauthorized sale of military uniforms across the country.

“Ghanaians should be confident to provide information to the security agencies in order to nip this trend in the bud.”

It further advised the public to be circumspect in dealing with persons who pose as military personnel.

“Please contact the Directorate of Public Relations on 0544338030 when in doubt.”

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10 Perish, 23 Others Severely Injured In Road Accident Near Savelugu

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At least 10 people have been killed in an accident near Savelugu in the Northern Region, officials say.

Police say a KIA Rhino truck carrying 33 passengers lost control and somersaulted after an attempt to avoid hitting a cyclist.

23 others have sustained various degrees of injuries and are receiving treatment in hospital.

The victims were said to be returning from a funeral on Sunday when the incident occurred.

“Six persons died on the spot, whilst 27 others sustained various degrees of injuries and were rushed to Savelugu Municipal Hospital for treatment.”

“Seven (7) persons were referred to the Tamale Teaching Hospital for further treatment. However, 4 persons; Zabaga Alhassan, aged 35, Iddrisu Issah, aged 40, Adam Iddrisu, aged 30, and Yakubu Tyro, aged 33, died on the same day whilst receiving further treatment at TTH. The total number of deaths recorded were ten (10).”

The Kia Rhino truck involved in the accident has been towed to the station for further investigations.

According to the police, the driver is on admission at the Savelugu Municipal Hospital.

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Chelsea Star Callum Hudson-Odoi Returns To Ghana For Vacation

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Ghanaian-English footballer Callum Hudson-Odoi has returned to Ghana for vacation as part of his midseason break.

The last time the Chelsea forward was in Ghana, he met President Akufo-Addo where he was encouraged to accept the long proposal to join the Black Stars.

Callum Hudson-Odoi who was originally born to a Ghanaian former footballer has not shied away from the fact that he identifies Ghana as his original home.

In a tweet, Callum Hudson-Odoi was seen in a flight flying to Ghana. He captioned the photo: Back to Ghana for a little break! See you soon.

Chelsea star Callum Hudson-Odoi returns to Ghana for vacation 

In the comment section, many have added their voice to the plea for Callum Hudson-Odoi to decide to play for the Black Stars. They believe, his presence in the Black Stars will boost the chances of the team to win matches.

Already, calls have been made for the likes of Salisu Mohammed, Tariq Lamptey, et al to accept the proposal to return to Ghana to play for the Black Stars.

Chelsea star Callum Hudson-Odoi returns to Ghana for vacation 

Ghanaians will hope Callum Hudson-Odoi’s latest visit will produce a favourable result considering the poor show of the Black Stars at the AFCON 2021 in Cameroon.

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